October 17th, 2014
The EU Savings Tax Directive (EUSTD) has been the EU’s flagship transparency initiative since its introduction in 2003, and we have written about it on many occasions. It complements another EU transparency scheme called the Directive on Administrative Co-operation, which was beefed up this week, as the Wall St. Journal
“European Union finance ministers agreed Tuesday on a far-reaching crackdown on tax evasion that will bring the bloc’s standards on par with global rules by 2017, although Austria is getting an extra year to build up a data-exchange system with its banks.”
The DAC currently covers only EU Member states, while the EUSTD is extended by agreement...
October 8th, 2014
The indefatigable US-based organisation Good Jobs First
has sent a fascinating email, which relates to the United States but could have general relevance for other countries. This one is located at the fascinating, busy intersection between tax and transparency.
October 7th, 2014
a statement that would have been unthinkable even just a couple of years ago:
“Publishing turnover, staff numbers, taxes paid and subsidies received in every country banks operate in, could boost competitiveness, increase lending and bolster financial stability, the independent study by auditors PwC will find. It will fight tax evasion and not harm investment or result in excessive compliance costs for banks, the report will say once published.”
This research, carried out for the European Commission as due diligence for the fourth revision of the EU Capital Requirements Directive, is highly...
June 25th, 2014
The IMF has a major new Policy Paper out entitled Spillovers in International Taxation
, looking at the effects that one country’s tax rules and practices can have on others.
Of course the IMF would never be so rude to some of its most powerful member states as to explicitly say
what is in our headline – but that’s what we read between the lines. “Spillovers” in international tax are all about tax haven activity, particularly when those spillovers are deliberately crafted.
Now that we’ve read it, we conclude that this is a really important document. It tears...